SIERRA METALS COMPLETES FIRST PHASE OF SYSTEMATIC DRILL CAMPAIGN AND CONFIRMS DIMENSIONS OF HIGH-GRADE SILVER MINERALIZED ZONE AT ITS CUSI MINE IN MEXICO

Toronto, ON – June 05, 2017 – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (“Sierra Metals” or “the Company”) today announced initial assay results the from exploration drill program at the Santa Rosa de Lima zone located within the Cusi Mine property in Cusihuiriachi, Chihuahua state, Mexico.
Drilling has confirmed a high-grade mineralized deposit, located adjacent to the current operations. The Santa Rosa de Lima zone is a regional structure, that has been identified in the area extending for 12 kilometers. The Main mineralized zone extends over 1,000 meters in length, 400 meters in depth and is open along strike to the Northwest and Southeast (see Figure 2 attached). Recent drilling results are summarized in Table 1. These results come as a part of a reinterpretation of the Hydrothermal model and a drilling campaign of 15,500 meters that began in December 2016.